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Search Results 0 to 31 of about 32 (some duplicates have been removed)
. >> there's never been a catch on the debt ceiling. congress ran the bills up, congress has to pay th bills. that's been done with presidents of both parties. >> reporter: lawmakers argue that the temporary debt limit suspension only sets the stage for another spending fight this spring. randall pinkston, cbs news, capitol hill. >> and taking a live look at wall street, stocks are up. the dow is up about 78 points. strong earnings reports from google and ibm pushed stocks higher this morning. this afternoon, things are still going strong. >>> the big easy is getting ready for the world stage having the 9ers and ravens playing in the super bowl is great for fans and for the new orleans economy. two weeks out jackson square is almost transformed. small businesses especially local breweries are getting ready for the influx of fans and media. the game is expected to bring some $434 million to big easy businesses. >>> the bowl means big best for farmers, too. the national chicken council estimates americans will consume 1.2 billion chicken wings during
using the debt ceiling as leverage rather than holding it hostage. and yet the republican congress is still in turmoil over whether this is the right thing to do. i was fascinated by mrs. -- it avoids my friends on the other side from having to coordinate with the treasury department. i was fascinated by mrs. miller's miller's comments regarding the escrow and whether or not interest would be undertaken. i was looking at the 401k maneuver for $150 billion taken out of the 401k plan of congress and the federal employees. and the first thing that came to my mind is, if you are going to take $150 billion out and i don't have many money over there, but you don't get interest. it ain't but a nickel, but a penny and somehow or another that seems to be a problem here as well. but being out of sight doesn't mean being out of mind. and the republicans can't will away our national responsibilities just because it conflicts with the ideology of your more extreme members. i imagine come may, my friends on the other side will find another loophole that allows them to pay off the debt ceiling fo
that congress needs to raise the debt ceiling to honor our commitments to our seniors, our veterans and that raising the debt ceiling is only about paying bills that we already racked up. i also believe the best way to achieve these goals is through a long-term balanced approach. it is not yet clear to me that this bill is a viable vehicle to achieve those goals. i, unlike my chairman, have not had a long enough time to look at this. our committee hasn't had a long enough time. we just got it this morning. so as you know we just received it. sorry. yesterday. considering the deals with how we fund the government, that potentially raises constitutional questions, i think it deserves a serious look. as we continue to -- i hope this committee will grant an open rule so we will -- so we can see if these improvements need to be made. we will have the opportunity to do so. house administration is responsible for the members' pay, component of -- many component of this proposal. among our concerns is the constitutionality, a section that's drafted. we know the 27th amendment -- whether or
the last debt ceiling debate. i thought it was interesting reading the executive management report from the ratings agency that also pointed to the congress that one of the reasons -- huge reason for the downgrade, they didn't feel that the congress had the political will to address the spending crisis that we are in either. so that was also a big part of the downgrade of our credit rating. now i think, you know, we are trying to exercise the political will to address our spending by having a budget which you can't really talk about appropriation bills and all of these kinds of things in my mind having continuing resolutions to fund the government forever is unsustainable. you need to pass a budget to begin with a foundation. >> mr. cole, i also talked to attorneys, our attorneys, some other attorneys, not just on our staff and i tell them, talk to me like i can understand you. because they talk too much legal lease. i ask them, if i get a paycheck in my account every month and i don't get that paycheck in my account, so whenever it may come, at the end of the year, that's varying. thei
to consult with the congress, the debt ceiling is raised in a manner that protects the general welfare of the american people. but now we have a proposal that is driven by polling and brinksmanship. this is not the way to run a country. i heard a comedian some years ago say what a great country, and we are a great country. i love america. the constitution emphasizes the greatness of this nation. but we don't play politics with something that is the ordinary course of business. spending cuts is a responsible way to govern, but it is to govern in a way that we sit at the table of reconciliation and we don't break the backs of seniors who relies on medicare and social security and veterans benefits. what we do is we sit at the table and we understand how to deal with the oncoming issue of the deficit. how do we deal with that? we do it with growth. in the constitution it doesn't suggest under this article we ought to do brinksmanship and to do two weeks or to may. what happens in may? a crisis where we can't pay our military? the debt ceiling is paying the debt. i am troubled, i am troubl
. there are no spending cuts as part of this. there are a number of republicans who want to increase the debt ceiling only at the congress passes a corresponding number of spending cuts. we have to watch this very closely and make sure it does reach that threshold. it is not necessarily 218. if everyone votes, it will be. if it does pass into the senate, harry reid says they will take it up and they will likely pass it as well. you have to get through this first. we will update you when and if we get there. melissa: another short-term solution. thank you so much. what did the administration know and when? hillary clinton in the hot seat today over the benghazi attack. lou dobbs will weigh in on that. lori: a mixed picture. we are back after this. ♪ >> at 21 minutes past the hour, i am patty and brown with your fox news minute. then yahoo! called early elections three months ago expecting and easy victory. the leader must now build a coalition after a strong showing by a new party. he is expected to keep his job. much of the u.s. experiencing the coldest temperature and two years. four deaths are blamed
, it is yours. connell: congress set to make a move on the debt ceiling. art laffer is coming up. dagen: playing some defense. the jpmorgan ceo lashing back at critics. more regulation is needed. connell: testifying on the benghazi attack and why moore could not have been done to save americans who died in libya. we will talk about that. dagen: stocks now and every 15 minutes. nicole: we are seeing the dow and the s&p hitting five-year highs. we are in quite an environment. nowhere near that 6500 mark where we were for the dow. we have seen a lot of names on the dow doing well today. microsoft, united, disney. we have had earnings season. we are all waiting on the debt ceiling and, obviously, that is something that looms over. google is up 6% now. as we await each one, it certainly can be a market moving event. after the bell, we will have apple and netflix. dagen: ridge edson is standing by on capitol hill with much more. rich: nothing is really set in stone. this bill would extend the debt ceiling until may 19. it requires the house and senate to pass a budget. if they pass a budget resolution
to raise the debt ceiling if one or two things happens. first, the constitutional amendment must pass the united states congress and sent to the people. >> that could happen. >> certainly may not happen if we don't try, the second is, substantial spending cuts. >> according to john boehner that is not going to happen either. >> a sincere effort of trying to address the problem, the trillion dollar a year deficits are unsustainable. >> we get that from republicans, i'm trying to get at what has happened within the republican congress in the house such that the day after the inauguration, the republican leadership is saying let's not raise the debt ceiling? let's pretend we simply do not have one. and do that for a period of months. is that -- is that thing going to get the votes? that is the question that luke russert asked. >> i am not on the whip team, i can't give you a firm answer. there will be no votes from republicans and yes votes, i have no idea. >> that is the question, should they vote for this thing, which by the way contains some crazy provision about congressional pay, de
time the s&p has closed at a five year high just this year. hopes that congress will raise that debt ceiling and some really better than expected earnings reports helped fuel the gains today. google beat analyst's expectations and that helped push its shares up about 5% in after hours trading. wow. chemical maker dupont and the insurer travelers also beat the analyst's estimates. 2012 was the best year for the housing market since before the financial crisis. that's the word today from industry experts. it's clear we are still not out of the woods. not yet anyway. the national association of realtors is reporting that americans bought more than 4.6 million existing homes last year. that's below the level of 5.5 million will that analysts consider healthy. but it's still up from 2011 and the highest since 2007. that same report shows that sales were actually down in december. but analysts point out that's partly because fewer homes were actually on the market then. in fact, the overall inventory has not been this low since 2005. gerri willis from the fox business network is with us. s
the debt ceiling for three months, the president would not stand in the way. in the past, the obama administration has not embraced the idea of a short-term extension. >>> police investigating a shooting at a texas college that left three people injured, it happened at the lone star college just north of houston. authorities say it started with an argument between two men that escalated into gunfire. a student said chaos broke out quickly after. >> we heard shots, and automatically we saw students running. and we went under our desks. our teacher shut down the lights and we tried to take cover. >> both men were shot as well as a college employee caught in the cross fire. that employee is listed in stable condition. police did detain the two men. campus and several nearby schools were put on lockdown for hours. school will be back in session tomorrow, though. >>> california's approach to dealing with mental illness could be a model for the entire nation. that's the message state senate leader darrell steinberg took to washington today. he met today with aides to vice president joe bi
about it. congress living up to its reputation today passing a debt ceiling bill that takes the proverbial cain than the proverbial rug. the political panel weighs in next. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd spiriva helps me breathe
on suspending the debt ceiling, and even the white house saying president obama would sign the bill if it passes congress. >> the house republicans made a decision to back away from the kind of brinksmanship that was very concerning to the markets, very concerning to business, very concerning to the american people. so the fact that the house republicans have made that decision is certainly something we welcome. >> all right. more than four months after the deadly attack on the u.s. consulate in bengahzi, libya, today secretary of state hillary clinton finds herself in the hot seat. she has a doubleheader of congressional hearings, in what will likely be her final appearance on the hill. she is likely to face tough questions from house and senate committees about the security lapses has led to the killing of four americans including ambassador chris stevens. the hearing begins this morning at 9:00 p.m. and house questioning at 2:00 p.m. lawmakers are expected to ask clinton whether or not she new the bengahzi consulate asked for additional security and asking about her whereabout thewhereab acti
. this is the bill that passed a couple of hours ago increasing the debt ceiling through may 18. if house lawmakers don't pass a budget by april 15, they don't get paid, if senators don't pass a budget by april 15, they don't get paid, the money goes into escrow and to get the money when it passed the budget or when this congress and is, the end of 2014 into early 2015. they will not stand in the way of this three-month increase of the debt ceiling. they want a much longer increase. >> ideally we would extend, raise the debt ceiling for a long period of time so that this is not a question, the uncertainty surrounding as of late 20 political strategy house republicans have taken will be removed. >> the senate will take this bill up and pass the bill, so feebly the white house and the senate, it is a done deal. now, and the senate and the house putting a budget together. john boehner said his budget republicans will release shortly will balance the budget in 10 years. david: rich edson, one of the best reporters i know in washington. we are awaiting the numbers on apple. the stock is about 30% off of
for a temporary lift to the debt ceiling. the house is expected to approve legislation on wednesday that would raise the debt limit for three months without any cuts to spending. members of the congress believe they can come up with a spending plan during that window. honda of campbell also introduced legislation for a back up plan that would prevent the worse fiscal cliff. >> i think we should have a process that addresses that so that it doesn't become a barrier or a political football. >> the last time lawmakers fought over the debt ceiling two years ago the country's credit rating was downgraded. >>> on wall street, stocks closed higher despite mixed earnings. >>> president obama began the first day of his second term with a traditional postinaugural prayer service. the president and first lady were joined by vice president biden and his wife at the washington cathedral this morning. the national prayer service dates back to the first inauguration of george washington. the interfaith service included prayers and readings from christian denominations along with islam, judisim and the sikh r
would congress do? caller: i would say, first, the debt ceiling there were talking about passing, i think it's a good time, a good thing for the short term. but what is stopping them from in may saying we need three more months and just kicking the can down the road? there has to be some consequences for republicans and democrats to actually say you've got to do this by a certain time or you don't have any more money to spend, so you don't get a raise. something has to be done to snap some reality back into congress. right now our grandchildren will end up paying our debt. that is pretty sad. i never thought there would be a day that i would say that. unfortunately, it is here. host: here's more information about the debt ceiling vote today in the house. freddie joins us now from missouri on our independent line. caller: hello. i think the congress has just gotten away from us. this country is we the people. the people don't have any say about anything. congress is the only one. they keep raising their salaries. and the people out here, money wise, we are going downhill. they keep r
ceiling, just three months, and if a budget doesn't pass, then members of congress can't get any pay, their pay is held up, i think that we ought to ask them, then, to put up all the votes, i mean enough votes to pass the bill, to see if their members, who have pledged not to raise the debt ceiling, who said they wouldn't do it unless there were deep cuts for every dollar, for every dollar that the debt ceiling was raised, a dollar in cuts. >> sure. >> let's see what they do tomorrow. >> congresswoman jan schakowsky, thanks for joining us tonight. appreciate it so much there a lot more coming up in the next half hour of "the ed show." stay with us. >> this is our generation's rendezvous with destiny. >> republicans can't win elections with their policies. so rights in the gang are hard at work rigging the electoral college system. the latest stunner from virginia is next. >> he's had it with taxes. he says he's going to take drastic action. he says he's had enough. >> legendary golfer phil mickelson is complaining about his new tax rates. we'll tell you why he should stick to golf. >
in the last debt ceiling. do you know this congress is only going to be the third congress since world war ii that cut discretionary spending year over year over year, even in all those terms and newt gingrich during that, they weren't able to do it as many times as we will. we have moved discretionary spending down. we want to see tax reform to expand the economy and go further. this is a succession. that will go into effect. then you have a cr that will go at the end of the month. that is another movement and an opportunity. >> gretchen: all right. congressman kevin mccarthy, nominate you for football coach potentially with your standing ovation. thanks for your time today. >> thanks for having me. >> gretchen: one of the most insane videos you're going to see all day long. (scream) >> gretchen: plane nearly taking out that biker. you might ask yourself what is the biker doing on the tarmac? the whole thing caught on camera. luke perry is back on the rodeo. can he deliver classic lines like this? stick around. >> seeing this world and there is two kinds of people, my friend. those are load
. >> reporter: the debt ceiling suspension came with a couple strings attached. if senate democrats don't pass a budget-- something they haven't done for four years-- members of congress won't get paid until they do. >> this bill simply says, "congress, do your job." when i grew up in wisconsin, if you had a job and you did the work, then you got paid. if you didn't do the work, you didn't get paid. it's that simple. >> house democrats called the pay ploy a gimmick and said a 90 day reprieve from default simply moves the crisis back. >> for the last two years, we've heard from our republican colleagues economic uncertainty is bad for the economy. guess what? it is. and yet that's exactly what you are doing. another big dose of economic uncertainty. >> reporter: republicans shifted gears on the debt ceiling after a strategy session last week. worried that they have lost the public debate, republicans were clearly trying out a new message today. >> balancing the budget over the next ten years means we save the future for our kids and our grandkids. it also means that we strengthen programs like
about the debt ceiling in general. it's been used 20 times since the 1950s for major spending reform. you will remember the clinton republican congress deficit reduction package. are calling senate democrats run the senate to follow the regular order. the debt ceiling can originate from either house. the senate finance committee could generate a gut feeling proposal. it would be incumbent upon the senate majority to function. what is their idea about raising the debt ceiling. we look forward to seeing what the democrats recommend. look forward to seeing what they recommend and it's time for them to function. [inaudible conversations] >> i'm sure that we would be happy to try to take a look at what the majority leaders would bring forward in the senate. >> would you think of the substance of the president's inaugural address remark. >> well i, i think that inaugural address was disappointing. it is basically a liberal agenda. spending and debt is the definition of our era. >> welcome back, everyone. this is the first time we have sat down together as a group. and we have our agenda fo
that they were not going to be able to win a spending cut fight using the debt ceiling vote. >> reporter: the clock is ticking. the country will max out its credit card at $16.4 trillion in several weeks, risking possible default on the nation's debt unless congress okay's more borrowing. the house is considering a short-term fix. lift the debt ceiling for a few months to take the pressure off, but require both house and senate to pass a budget. if they fail, congress would not get paid. >> you can't go for months and months without a paycheck. and what this does is basically says that your pay gets escrowed, put on hold until you pass a budget. >> reporter: trying to turn up pressure on democrats in the senate, who have not passed a regular budget in four years, relying on this comparison. >> didn't exist the last time the senate passed a budget. >> the last time they passed a budget the ipad hadn't even been introduced. >> it is expected a block of conservatives probably will not support this. house leadership hopes that it will pass. it does provide some breathing room. it does not en
they won the round because the debt ceiling will go up in may. without offsetting spending cuts. republicans counter getting the senate democrats to agree to a budget by april means for the first time in four years congress may be able to show some degree of real fiscal discipline. bret? >> bret: thank you. senate majority leader harry reid hopes to get a deal done soon with republicans over new filibuster rules. they want to require senators to be present when they filibuster. republicans are resisting that. reid hinted he may use the so-called nuclear option to change the rules, with a simple majority of 51 votes instead of the usual two-third. the dow continued its momentum, up for a fourth day if a row today. industrial average gained 67. to reach the highest closing value since halloween of 2007. the s&p 500 finished ahead two. the nasdaq increased 10-1/2. we will hear from the chairman of the house foreign affairs committee a bit later. up next, why you are giving a powerful weapon to enemy of a friend. [ male announcer ] ok, here's the way the system works. let's say you
, the sequestration was supposed to happen january 1st. punt on that one. debt ceiling, supposed to hit that. now it will be steve 19. there's no austerity. >> what michael is saying in a very long-winded way is don't fight the fed. not fighting the fed. the fed, europe, japan's now with b to go hog wild. >> sure, sure. >> the whole world is printing new money. >> abe, the new prime minister of japan, japan is at least discussing a new quantitative easing scheme for them. they are going to be printing a lot of yen. >> the point is all that tends to be good for assets like stocks? >> very stimulative. europe will have to start printing money as well to deal with their issues so you don't want to fight that liquidity. >> earnings don't matter then? >> earnings do matter. i think probably revenue will matter a lot more than earnings by the end of 2013. earnings matter and fundamentals matter but the backdrop is we know what we think may not be relevant or what bernanke thinks is relative, he'll keep this a liquid environment for the foreseeable future. >> jim bianco, earnings matter. steve's liked t
consistently said he'd refuse to negotiate around the debt ceiling. his strategy is vindicated now that the republicans have backed off their threats to take the nation into a default. the president stared down the republicans. they blinked. >> ifill: congress still faces other fiscal fights. automatic spending cuts are due to kick in on march first, and funding for the government runs out march 27. so, can the republican party use fiscal issues to regain its footing? for more on the political fights ahead we turn to susan page, washington bureau chief for "u.s.a. today." and stuart rothenberg of the "rothenberg political report" and "roll call." chuck schumer just said the republicans brinked. did they blink, susan, and does it matter if they did? >> i think a big recalbraigz on their part. they find themselves on the defensive when it comes to the debt ceiling issue. remember how they vowed they would only raise the debt ceiling by a dollar for every dollar cut in spending. now they said never mind. we'll push that down the road. the big fight will be on the sweeping spending cut
cuts. it could be a key to the house vote today on the debt ceiling battle. nancy cortes is on capitol hill. good morning. >> reporter: good morning. that vote is set to take place in the next couple hours. this is the week we thought the big fight over raising the debt ceiling was going to get under way. that's something senate democrats haven't managed to do since 2009. no budget, no pay. that is the message from the house republican leader. >> americans believe if you don't do your job, you shouldn't get paid. that's the basis for no budget, no pay. >> reporter: the bill they will be voting on today calls for a temporary suspension of the debt ceiling until mid-may, but it requires the house and senate to craft budgets by april while members' salaries will be held in escrow. paul ryan explains the strategy. >> in the house, democrats and republicans have been leading by offering budgets and offering alternatives. the senate hasn't even done that. all we're saying is let's get the senate in here to do that to see how we're going to figure out the p
really hit the limit. the president has asked for a very large increase in the debt ceiling, and some in the administration have called for no limit at all. others in the administration and in the house are calling for congress to give up its authority to set the debt limit, rather amazing, thus giving the executive branch unilateral authority to borrow. this is not a good idea. if the federal government does not collect enough revenue to pay for all of its spending obligations, it must borrow to make up the shortfall. everybody knows that. we are borrowing about now 42 cents of every dollar we are obligated to spend. now, this is clearly, i think everybody would agree on either side of the aisle and the public, this is an unsustainable situation which will only get worse if we do not begin meaningful discussions over our spending priorities, including, including entitlement spending to strengthen and preserve those programs for future generations. the national debt is growing. everybody has seen that chart. about $16.4 trillion. the total public debt outstanding at the end of the thi
. that raising the debt ceiling isn't about spending more money, it's about paying for bills we already incurred. there is a bipartisan acknowledgement how difficult and serious the challenges before us have become, however, this proposal is just another attempt to yet again put the discussion off for another day. madam speaker, i came and saw the sign, no budget, no pay. probably should say no budget, delayed pay. but it sounds better when you say no budget, no pay. that means we may not be getting paid. we'll get made. it will be delayed. every year in this house we do pass a budget, although it's a budget i can't vote for, it's a budget that hurts the middle class, working class, the wannabe working class, and also hurts the american people safety net. we know again this year we'll pass that budget. so our friends on the other side of the aisle are putting up a no budget, no pay quite well-known they will probably pass their budget and we will probably get paid. on another thought, why not, as my good friend, mr. doyle from pittsburgh, has said to me, why not no gun control, no pay? why not i
a fight around the debt ceiling? do you think we'll have a disruption around this inability to compromise? >> i know nothing more than you other than what i read in the paper today and it seems like they are already starting to. could mice by pushing it out and asking for a budget which i think all seems rational and compromise by the way so i applaud them. >> what does your gut tell you about all the money moving into stocks recently? had a fantastic early 2013. do you think this is sustainable? >> the economy grows it's sustainable, and i still think you can buy american companies at pretty good prices. these are some of the world class companies, you know, not just american companies, european and japanese and chinese companies, but you are still buying at fairly good prices and the alternatives aren't that good, yeah, i'm comfortable owning stocks right now. >> are you saying that kind of comfort on the part of investors, the private bank, wealth management? what are you seeing in terms of the sentiment? >> i think, yes, but not -- it's not -- you and i have seen real bull markets, no
, everybody. the house is expected to vote on extending the debt ceiling. there is a new plan the house will take up which would say no one in the house of congress that doesn't pass a budget should get paid after i believe may 19th or something. is that a plan that would also pass in the senate? >> it might, becky. i've got give the house credit for focusing on the real underlying cause of all this government by cliff we've been living through,s which the fact that the senate doesn't function. senator reed chooses not to do a budget resolution for three consecutive years, we did no appropriation bills, no bill to address the debt ceiling and the consequence of this is we end up at midnight on december 31st with a gun to our head trying to get something done at the last minute nobody's had a chance to look at. what the house is saying is, it's about time the senate actually did what any law requires, which is pass a budget. and begin the process of setting the parameters for how we will solve this problem and live within our means and how we will eventually get on a sustainable fiscal p
be seeing this go down very, very soon. what this bill does is it suspects the debt ceiling until may. that means treasury can borrow without limit to pay for america's obligations. this is something that gives congress breathing room to deal with some of their other big fiscal challenges that we all know about. it lifts this immediate threat of a default, which is so dangerous not just for the american economy but for the world markets. it does so with a requirement, a price requiring the senate to pass a budget. actually, both houses, each house would have to pass a budget or members of congress won't be paid. their pay will be put in an escrow account are they won't be paid. that's a little bit. schtick they're trying to use. this takes away the threat of a big default. >> house republicans have it seems backed off their demand that any increase in the debt ceiling be matched by spending cuts. is this seen as a political retreat or are they hoping to gain something in return? >> reporter: well, both sides are kind of gloating here and claiming victory. we had a press conference fro
Search Results 0 to 31 of about 32 (some duplicates have been removed)